Asia: Cushion Cover Market 2024

Cushion Cover Market Size in Asia

The Asian cushion cover market soared to $X in 2021, growing by 20% against the previous year. Overall, consumption showed a resilient increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Cushion Cover Production in Asia

In value terms, cushion cover production totaled $X in 2021 estimated in export price. The total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -30.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 23%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Cushion Cover Exports

Exports in Asia

In 2021, approx. X tons of furnishing articles for car seats were exported in Asia; picking up by 28% against 2020. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cushion cover exports surged to $X in 2021. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the key exporter of furnishing articles for car seats in Asia, with the volume of exports resulting at X tons, which was approx. 66% of total exports in 2021. India (X tons) took a 23% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (5.3%). Vietnam (X tons) took a relatively small share of total exports.

Exports from China increased at an average annual rate of +1.4% from 2012 to 2021. At the same time, India (+6.5%) and Turkey (+5.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +6.5% from 2012-2021. By contrast, Vietnam (-6.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India increased by +7.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cushion cover supplying countries in Asia were China ($X), India ($X) and Turkey ($X), with a combined 96% share of total exports.

In terms of the main exporting countries, India, with a CAGR of +7.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2016 an increase of 14%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.4%), while the other leaders experienced more modest paces of growth.

Cushion Cover Imports

Imports in Asia

In 2021, the amount of furnishing articles for car seats imported in Asia rose remarkably to X tons, with an increase of 8.1% on the previous year. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 11%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, cushion cover imports soared to $X in 2021. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X tons), distantly followed by South Korea (X tons), the United Arab Emirates (X tons) and Malaysia (X tons) were the largest importers of furnishing articles for car seats, together creating 57% of total imports. Iraq (X tons), India (X tons), Kazakhstan (X tons), Turkey (X tons), China (X tons), Cambodia (X tons), Saudi Arabia (X tons), Myanmar (X tons) and Israel (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +28.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported furnishing articles for car seats in Asia, comprising 34% of total imports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total imports. It was followed by the United Arab Emirates, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Japan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+4.4% per year) and the United Arab Emirates (-1.0% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, with an increase of 9.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+8.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform